RBI Policy: India prepared for Federal Reserve rate hike

The Reserve Bank of India announced its first bi-monthly monetary policy
statement for 2017-18 today. The apex bank in the past three policy
meets has surprised all with its decisions.

The Reserve Bank of India announced its first bi-monthly monetary policy statement for 2017-18 today. The apex bank in the past three policy meets has surprised all with its decisions. Here are the live updates.

2:13 pm: The RBI also needs to reduce the around Rs 4 trillion ($61.59 billion) accumulated in the banking system in March, doubling from the January. Hence, some liquidity reducing measures are also likely to be announced today.

2:12 pm: All 60 economists polled by Reuters predict the RBI's six-member monetary policy committee (MPC) will leave the repo rate at 6.25 percent, where it has been since October.

02:12 pm: The bank is likely to talk about the mechanism to resolve the issue of non-performing assets (NPAs).